Being unemployed is a life changing event which requires important financial decisions to be made. Foremost is the fact that a loss of income may make it difficult for you to maintain loan repayments or meet your other financial obligations. Unemployment can therefore have serious long-term implications on your financial wellbeing. You should also approach your credit providers in a honest manner to discuss your current situation.

In order to make an informed decision, you should consider the following questions:

  1. Do you have retrenchment cover in place and how much income will it provide?
  2. What is the value of your retrenchment package? How soon will you receive the funds? Has your employer provided you with proof of my retrenchment?
  3. Will you be able to apply for UIF?
  4. What is the likelihood of you will find new employment in the near future?

At SA Home Loans we will carefully consider all the information that you provide to us with the aim of finding a workable solution that is in the best interest of all parties. Solutions may include payment plans, or assistance with the selling of your property if this is an option that you are considering. The assistance that we may provide is tailored to each client’s unique situation and will remain subject to our terms and conditions.
If you require more information regarding the options that are available to you, please contact us on 086 111 3414.